Hantz Financial Services Inc. Purchases New Shares in Akamai Technologies, Inc. (NASDAQ:AKAM)

Hantz Financial Services Inc. acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,377 shares of the technology infrastructure company’s stock, valued at approximately $574,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Akamai Technologies by 2.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,317 shares of the technology infrastructure company’s stock worth $1,830,000 after acquiring an additional 472 shares during the period. iA Global Asset Management Inc. raised its position in shares of Akamai Technologies by 26.2% in the second quarter. iA Global Asset Management Inc. now owns 2,804 shares of the technology infrastructure company’s stock valued at $253,000 after purchasing an additional 583 shares during the period. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the second quarter valued at approximately $28,000. Tobam raised its position in shares of Akamai Technologies by 638.5% in the second quarter. Tobam now owns 51,224 shares of the technology infrastructure company’s stock valued at $4,614,000 after purchasing an additional 44,288 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Akamai Technologies by 25.9% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,348 shares of the technology infrastructure company’s stock valued at $2,373,000 after purchasing an additional 5,424 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the sale, the chief technology officer now directly owns 24,729 shares in the company, valued at approximately $2,184,559.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,500 shares of company stock worth $617,475. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

AKAM stock opened at $101.84 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The stock has a market cap of $15.51 billion, a PE ratio of 25.33, a P/E/G ratio of 3.27 and a beta of 0.67. The firm has a 50 day simple moving average of $95.95 and a two-hundred day simple moving average of $99.43.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. On average, analysts predict that Akamai Technologies, Inc. will post 4.41 EPS for the current fiscal year.

Akamai Technologies announced that its board has approved a share buyback plan on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AKAM has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research note on Wednesday, July 24th. Raymond James reduced their price objective on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.47.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.